Crude Oil Jumps Back Near $60

Crude oil prices snapped back Tuesday morning, taking back most of their losses from the previous few sessions.

A weaker dollar gave a number of commodities a lift in early dealing.

U.S. crude oil for July was up $1.33 at $59.41 a barrel.

The U.S. Energy Information Administration is scheduled to release its monthly short-term energy outlook later today, with OPEC and the International Energy Agency to follow with their reports later in the week.

The Commerce Department is scheduled to release its wholesale inventories report for April at 10 am ET. Economists expect wholesale inventories to have risen by 0.3 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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